stockrowLi-Cycle Holdings Corp.
LICYQ Industrials Waste Management
Li-Cycle Holdings Corp.’s revenue for fiscal 2024 (year ended December 2024) was $28.0 million, up 53.0% from fiscal 2023.
- Revenue
- +9.38%
- EPS
- −17.8%
- Free cash flow
- +68.5%
Quarter to December 2024, against a year earlier
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Li-Cycle Holdings Corp. (LICYQ) Altman Z-score
Li-Cycle Holdings Corp.'s Altman Z-score for fiscal 2024 is −1.16, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2024 | −1.16 | (0.26) |
| FY2023 | −0.90 | (10.52) |
| FY2022 | 9.62 | 8.06 |
| FY2022 | 1.56 | (21.44) |
| FY2021 | 23.00 | 18.90 |
| FY2021 | 4.10 | — |
How fiscal 2024’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.07) | — | −0.09 | |
| Retained earnings / total assets | (0.48) | — | −0.67 | |
| EBIT / total assets | (0.15) | — | −0.48 | |
| Market value of equity / total liabilities | 0.07 | — | 0.04 | |
| Sales / total assets | 0.03 | — | 0.03 | |
| Altman Z-score | Distress zone | −1.16 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −2.55 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| ABAT American Battery Technology Company compare | 28.9× |
| YDDL One and One Green Technologies. Inc compare | 14.8× |
| AWX Avalon Holdings Corporation compare | 0.8× |
| QRHC Quest Resource Holding Corporation. compare | 0.5× |
| ENGS Energys Group Limited compare | −0.2× |
| LICYQ Li-Cycle Holdings Corp. | −1.2× |
| AREC American Resources Corporation compare | −1.7× |
| GWAV Greenwave Technology Solutions, Inc. compare | −13.9× |
| LNZA LanzaTech Global, Inc. compare | −16.0× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets